Bulgaria

US Sanctions on Bulgarian Nationals/Associated Companies

Reading Time: < 1 minute

The United States has imposed sanctions on three Bulgarians and 64 companies linked to them, over their alleged corrupt activities. The three businessmen are former lawmaker and media mogul Delyan Peevski, government official Ilko Zhelyazkov and fugitive gambling tycoon Vassil Bozhko. Those blacklisted are banned from the US financial system, their assets frozen; it is also prohibited for Americans to have any dealings with them.

Bulgaria and the EU are in support of the sanctions, and Sofia has announced its own “blacklist” of companies and people associated with the three Bulgarians and the 64 entities. The extended blacklist of Bulgaria’s caretaker cabinet including over 60 Bulgarian companies and individuals may be voided as unconstitutional in lawsuits filed by those listed. Domestically, the measures are likely to exert a domino effect of bankruptcies, putting many company employees out of work and leading to a massive increase in public spending on unemployment benefits.

CET Editor

Recent Posts

Poland tops employment rankings – OECD report

The EU’s employment rate reached a record high of 70.9% in the fourth quarter of…

23 hours ago

Greece plans to repay Eurozone’s bailout loans whole decade in advance

Greece has announced plans to repay its first bailout loans a decade ahead of schedule,…

23 hours ago

CEE economies tougher than you may think – ING

Despite their export-driven economies and strong manufacturing bases, Central and Eastern Europe (CEE) countries may…

23 hours ago

Slovenia mulls French, US bids for nuclear project

Slovenia is at the centre of a strategic struggle between France and the US, as…

24 hours ago

Single market is not single, and it’s costing us all

The EU’s internal market is still falling short of its founding promise. Despite decades of…

5 days ago

Foot-and-mouth sees culls, CEE border closures

An outbreak of foot-and-mouth disease (FMD) has prompted mass animal culls and tightened border controls…

1 week ago